Allowed

M/S. Yes Bank Ltd. v. Mr. Vikas Agarwal

DRT6 Mar 2026OA/811/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed bank's application for recovery of sum Rs. 24,46,939.18 plus interest and costs against jointly and severally liable respondents without their appearance.

What did the court decide?

Defendants 1 & 2 jointly and severally liable to pay Rs. 24,46,939.18 with interest @7.40p.a.; bank entitled to realize debt via hypothecated assets and properties.

M/S. Yes Bank Ltd. versus Mr. Vikas Agarwal — Contract and Commercial Disputes | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 6th DAY OF MARCH, 2026 PRESENT: SH. RAMESH_WAR KOTHE, B.Com. L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 811 OF 2O2S

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M/S, YES BANK LTD., 2nd Floor, H.No.1-8-387, Agravanshi^plaza, HUDA Lane, S.p. Road, Secunderabad - 500003. Rep: By its Authorized Signatory

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.....Applicant.

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Versus

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Mr. Vikas Agarwal, S/o. fqr. Ramesh Chand Agarwal, Flat No.B04, Aparna Aura, Film Nagar Road, Hp petrol pump, Shaikpet, Hyderabad - 500008.

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ALSO AT:

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Mr. Vikas Agarwal, S/o. Mr. Ramesh Chand Agarwal, Flat No.2A, Plot No.14 and 16, Diamond Point, Sikh Village, Secunderabad, Hyderabad - 500009.

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PERMANENT ADDRESS:

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Mr. Vikas Agarwal, S/o. Mr. Ramesh Chand Agarwal, 7 - 1-2L6/ lA, Jains Anjani Apartment, S Dharam Karam Road, Ameerpet, Hyderabad - 500016.

¶11

Mrs. Anju Narang, Wo.^{Mr. Raj} Kumar Narang, Flat No. 804, Aparna Aura, Film Nagar Road, HP petrol Pump, /,/ ')tv ftLo^'-"

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oA.NO.811/202s

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Shaikpet,^HYderabad -^500008'

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ALSO AT:

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Mrs. Aniu^Narang, C/o. Global^{DataResearchCentre,} 3rd Floor,^{JyothiPinnacleBuilding,} Opp. Google^{Office, KondaPur,} Hyderabad -^500081.

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PERMANENT^ADDRESS: Mrs. Anju^Narang, W/o. Mr.^{Raj Kumar Narang,} 7 -l-2t61^{LA, lainsAnjani Apartment,} Dharam^{Karam Road, AmeerPet,} tleir nosaian^{House, Hyderabad - 500016'}

¶17

"'Defendants

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Counsel^{for the Applicant: Mr' N'B' Sudarshan}

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Counsel for^{the Defendants : Ex-pafte}

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:: $[ff,::

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The Applicant^{Bank filed the present OA for the recovery a total} sum of Rs.^{24,46,939,18ps with future interest@18o/oP'a'} from the date of^{application till the date of realizationalong} with costs and,^{in default,sale of OA hypothecated asset'}

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2.summonservedonDefendantsl&2throughpaperpublication and were set^{expafteon 06'01.2026 as called absent and no} representation.

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The^{ApplicantBankexaminedMr' Sai Pavan Gudivada,Legal} Manager, as AW-1 and^{marke%,8 documentsthroughhim as} Ex.A.lto Ex.A.8. A {-'t"

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oA.NO.811/202s

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Heard ex-parte arguments from the Ld. Counsel of the Applicant Bank.^perused the material placed on record.

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The point that arises for consideration is: _

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Whether the Applicant Bank is entiiled for the claim made in the OA against the Defendants and OA hypothecated asset?

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As stated supra, the Defendants remained ex_parte. The Evidence Affidavit coupred with the recitars in the documents viz., Exs.A.1 to A.B marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are liable to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.B11/2025 is allowed as under: -

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i) The Defendants 1 & 2 are jointly and severally liable to pay to the Applicant Bank a sum Rs. 24,46,939.L8 ps with future interest @7.40o/o p.a. simple from the date of application till the date of realization;

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ii) the OA claim is secured by way of hypothecation of asset as described in the schedule annexed to the OA and the applicant bank is entiUed to proceed against the same to realise its debt;

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iii) the applicant bank is also entitled to proceed against the person and properties of defendants for realization of its dues;

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iv) the applicant bank is entiued for the costs. ,'

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oA.NO.811/202S

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The Applicant^{Bank is directed to flle Cost Memowithin 2 weeks} from the date^{of receipt of this Order'}

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Issue Recovery^{Certificate accordingly'}

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Communicate^{a copy of this order to the parties concerned'}

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(Dictated to the steno,^{corrected,signedand pronounced br'%i$il)Z$utton} thisthe 6'h DayorMarch,2026). tqao(/rirffAoi?oirrl

¶39

PRESIDING^OFFICER

M/S. Yes Bank Ltd. v. Mr. Vikas Agarwal

Case brief

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M/S. Yes Bank Ltd. v. Mr. Vikas Agarwal

Case brief

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